Alphatec Holdings, Inc. (NASDAQ:ATEC) Short Interest Up 6.3% in June

Alphatec Holdings, Inc. (NASDAQ:ATEC) saw a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 12,450,000 shares, an increase of 6.3% from the May 31st total of 11,710,000 shares. Based on an average daily volume of 1,620,000 shares, the short-interest ratio is presently 7.7 days.

Analysts Set New Price Targets

ATEC has been the subject of a number of analyst reports. Canaccord Genuity Group reiterated a “buy” rating and set a $25.00 target price on shares of Alphatec in a report on Wednesday, March 20th. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price objective on shares of Alphatec in a report on Wednesday, May 8th. Finally, Piper Sandler reduced their target price on Alphatec from $19.00 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 8th. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.75.

Insider Activity at Alphatec

In other Alphatec news, CFO John Todd Koning sold 37,500 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $12.82, for a total value of $480,750.00. Following the completion of the sale, the chief financial officer now directly owns 393,356 shares of the company’s stock, valued at $5,042,823.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, General Counsel Tyson Eliot Marshall sold 50,232 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $10.88, for a total value of $546,524.16. Following the transaction, the general counsel now owns 245,638 shares in the company, valued at $2,672,541.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John Todd Koning sold 37,500 shares of the company’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $12.82, for a total transaction of $480,750.00. Following the sale, the chief financial officer now owns 393,356 shares of the company’s stock, valued at $5,042,823.92. The disclosure for this sale can be found here. 22.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Alphatec

A number of institutional investors and hedge funds have recently made changes to their positions in ATEC. RiverPark Advisors LLC grew its stake in shares of Alphatec by 22.6% in the 4th quarter. RiverPark Advisors LLC now owns 5,033 shares of the medical technology company’s stock worth $76,000 after buying an additional 928 shares during the last quarter. Comerica Bank grew its stake in shares of Alphatec by 64.8% in the first quarter. Comerica Bank now owns 6,443 shares of the medical technology company’s stock worth $89,000 after acquiring an additional 2,534 shares during the last quarter. Tidemark LLC bought a new position in shares of Alphatec during the fourth quarter valued at $137,000. Amalgamated Bank raised its position in shares of Alphatec by 7.3% in the 4th quarter. Amalgamated Bank now owns 9,720 shares of the medical technology company’s stock worth $147,000 after purchasing an additional 660 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new position in Alphatec in the 1st quarter worth about $141,000. Institutional investors own 66.35% of the company’s stock.

Alphatec Stock Up 0.8 %

Shares of NASDAQ:ATEC opened at $9.98 on Thursday. The firm has a market capitalization of $1.40 billion, a P/E ratio of -6.70 and a beta of 1.40. The company has a debt-to-equity ratio of 13.63, a quick ratio of 1.49 and a current ratio of 2.39. The stock has a 50 day moving average price of $10.88 and a 200-day moving average price of $13.26. Alphatec has a 52-week low of $8.66 and a 52-week high of $19.14.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings data on Tuesday, May 7th. The medical technology company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). The firm had revenue of $138.48 million during the quarter, compared to the consensus estimate of $134.07 million. Alphatec had a negative return on equity of 1,767.81% and a negative net margin of 37.45%. Alphatec’s revenue for the quarter was up 26.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.40) EPS. As a group, equities research analysts anticipate that Alphatec will post -1.04 EPS for the current fiscal year.

About Alphatec

Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders in the United States and internationally. It manufactures and sells implants and instruments through third-party suppliers. The company offers Alpha InformatiX product platform, including EOS imaging system that provides full-body imaging; VEA alignment mobile application, which leverages EOS technology to more quickly quantify alignment parameters on a mobile device; SafeOp Neural InformatiX System that automates electromyographic and somatosensory evoked potential monitoring; and Valence, an intra-operative system that integrates navigation and robotics into spine procedures, as well as Sigma Prone TransPsoas (PTP) Access and PTP Patient Positioning Systems.